Pakistan does not deserve the imports of $80 billion

On Monday, the Management Association of Pakistan (MAP) organized the 37th Corporate Excellence Awards Ceremony at a local hotel. Former Finance Minister Miftah Ismail was the Chief Guest of the event and distributed awards among the winners. The top trophy winner in the Industrial Category was Engro Fertilizers Limited, while Meezan Bank Limited was awarded the top trophy in the Financial Category.

Sector-wise awards in the Industrial Sector were given to Feroze 1888 Mills Ltd, AI-Abbas Sugar mills Ltd, Lucky Cement Ltd, HubCo, PSO, Mari Petroleum Co. Ltd, International Steels Ltd, Pakistan Cables Ltd, Indus Motor Co. Ltd, Thal Ltd, Pakistan International Container Terminal Ltd, Fauji Fertilizer Company Ltd, Abbott Laboratories Pak Ltd, Archroma Pakistan Ltd, Security Papers Ltd, Colgate-Palmolive Pakistan Ltd, and Shifa International Hospitals Ltd. Sector wise awards in the Financial Sector was received by OLP Modaraba, First Habib Modaraba, OLP Financial Services Pakistan Ltd, Standard Chartered Bank (Pakistan) Ltd, Jubilee General Insurance Co. Ltd, and EFL’ Life Assurance Ltd.

The runner-up companies were awarded the Certificates of Corporate Excellence. The Certificates of Excellence in the Not for Profit Sector were presented to The Citizens Foundation, LRBT and Shaukat Khanum Memorial Cancer Hospital & Research Centre.

On occasion, President MAP Talib Syed Karim said that the 37th Corporate Excellence Awards is a testament to MAP’s forward-looking approach to recognizing companies operating with excellence to achieve their goals.

“The Corporate Excellence Awards seek to guide the industry on managing capital and resources to become leaders and guide those who want to pursue the same,” he added.

He added that as a leader in good governance in Pakistan, MAP knows the impact of flash floods on our economy. “We must ascertain a roadmap that creates a viable environment for the corporate sector to put in its flood relief efforts. It is through our shared goals that we will uplift our country’s morale,” he added.

Talking about the major initiatives of MAP, he said it had held 22 Annual Conventions covering various topics where leading industry experts have been invited to share their views.

MAP has organized 1722 seminars, workshops, and training courses, with over 61,000 participants benefiting from them. This collaboration has also expanded its opportunities for MAP members, especially in the Young Managers Program.

MAP has been sending two Young managers for field trips to Macau and Hong Kong every year. MAP member team has also been participating in the annual Asian Management Games,” said Talib.

Speaking on occasion, Miftah Ismail said that He added that Pakistan does not deserve the imports of $80 billion, with just $30 billion in exports and $30 billion in remittances. “We have to be export oriented. We haven’t established any brand in exports. We have fundamental issues with our economic policies,” said Miftah.

Besides, he added, Pakistan should also focus on developing its agriculture sector because it is quite unfortunate that Pakistan has been importing cotton, pulses, edible oil etc. It is pertinent to mention that 117 companies were shortlisted for awards based on the set criterion by MAP for the said awards.


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